Gyrodyne, LLC (GYRO) Form 10-Q — Aug 13, 2026
Gyrodyne's Q2 2026 10-Q shows net assets in liquidation rose to $27,055,247 from $25,858,997 at year-end 2025, lifting estimated liquidating distributions to approximately $12.30 per common share from $11.76 on 2,199,308 shares outstanding. The $1.2 million improvement was driven by roughly $620,000 of employee-restructuring savings, favorable expense variances, a lower Cortlandt Manor entitlement budget, and higher forecasted lease revenue. A subsequent event discloses a Separation Agreement with COO Peter Pitsiokos effective October 2, 2026, including a $100,000 six-month severance, after which CEO/CFO Gary Fitlin becomes the company's only full-time employee to finish the wind-down.
Key figures
- Total Debt
- 10712950
- Total Assets
- 57920143
- Cash Position
- 3771333
- Shares Outstanding
- 2199308
- B2k Closing Credit
- 4020222
- Debt Maturing2027
- 4723871
- Debt Maturing2028
- 5989079
- Expected Coo Savings
- 620000
- Flowerfield Acreage
- 63 acres / 135,000 sq ft industrial park
- Coo Severance Payment
- 100000
- Increase In Net Assets
- 1196250
- B2k Purchase Price Range
- $24,000,000 to $28,740,000
- Cortlandt Manor Acreage
- 13.8 acres / 31,000 sq ft medical center
- Mod Density Designation
- 154,000 sq ft (150,000 medical, 4,000 retail)
- Real Estate Held For Sale
- 53990000
- B2k Earnest Money Deposit
- 250000
- B2k Estimated Gross Value
- 28740000
- Credit Line1 Outstanding
- 1784309
- Credit Line2 Outstanding
- 2443339
- Net Assets In Liquidation
- 27055247
- Retention Bonus Liability
- 2234824
- Mortgage Loan2021 Outstanding
- 4507473
- Net Assets In Liquidation Prior
- 25858997
- Estimated Distribution Per Share
- 12.3
- Remaining Land Entitlement Costs
- 995000
- Estimated Liquidation Completion
- December 31, 2028
- Entitlement Costs Incurred H1 2026
- 144000
- Largest Tenant Rental Income Shares
- 30%, 18%, 10%
- Prior Estimated Distribution Per Share
- 11.76
- Estimated Liquidation Operating Costs Net Of Receipts
- 15317135
Price after filing
Close on the filing date to close N calendar days later (from $5.44). Historical, not a forecast.
AI analysis
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